Published: Thu, November 23, 2017
Global News | By Stacy Ballard

Two Boeing 747s sold via Alibaba's Taobao online shopping site

Two Boeing 747s sold via Alibaba's Taobao online shopping site

Two Boeing 747 planes were bought by Chinese cargo airline SF Airlines for more than $48 million from the Intermediate People's Court via Taobao, the online shopping platform owned by Alibaba, marking the first time such jets have been sold via online auction in China, and quite possibly, the world.

Alibaba's online e-commerce platform which is globally known as Taobao has been constantly giving more choices and expanding the online selling platform for its customers. However, the other two were purchased by SF Express, a Chinese delivery services company, which beat 25 other interested parties to the lot. Today, the e-commerce company managed to sell 2 jumbo jets. Manufactured by Boeing's Commercial Airplane unit in the United States, the original version of the 747 was envisioned to have 150 percent greater capacity than the Boeing 707, one of the common large commercial aircraft of the 1960s.

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Then, on November 20, three 747s were put up for sale on Taobao's judicial sales platform.

At the end of 2010, the number of registered members on Taobao had reached over 370 million, around 80% of the Chinese online shopping market. The Economist calls it "the country's biggest online marketplace".

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A third plane went unsold due to only one buyer registering to bid, Chinese news agency Xinhua reported.

A court had tried unsuccessfully to sell the aircraft for years, during which time they were kept in storage in Shanghai and Shenzhen.

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The local carrier managed to seal the deal with a whopping 320 million bid or a total of $48 million for two of the 747 freighters.

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